Income Verification Overview
VERO offers 3 ways that you can verify your income on your leasing application, ensuring secure, fast, and flexible ways to meet income verification needs:
Direct link to your payroll, employer, or benefits account(s)
Direct connection to the bank account(s) where you receive your income deposits
Uploading financial documents, such as paystubs or bank statements, to show income manually.
Each of these methods follows a hierarchy of verification. This means that if your payroll, employer, or benefits account has been successfully linked, you will not be asked to complete additional verification steps if you do not wish to.
This also means that if you were unable to link your payroll, employer, or benefits account (or you skipped the step), you'll then be prompted to link your bank account or manually upload financial documents if your bank account cannot be verified or the step is also skipped.
Below you'll find an overview of each section, along with some frequently asked questions and links to specific income steps for more information.
Add Income: Connect your Employer, Payroll, or Benefits
The first step that you'll always encounter is the Add Income step. This allows you to link your employer, payroll, or benefits account directly.
By linking your employer, payroll, or benefits account, you can log directly into employers, payroll providers, gig economy jobs, and even government benefits like Social Security to quickly and accurately verify your income.
VERO partners with Argyle, who maintains the highest level of security standards, having undergone SOC2, ISO 27001, PCI DSS, GDPR, and CCPA audits and provides military-grade encryption with secure storage protocols to protect your personal information.
To use this income verification method, search for your employer or payroll provider, or the name of the government benefits provider. Log in using your credentials and quickly pull your employment and income information as shared directly from your employer.
The employer will supply VERO with an overview of your employment or benefits, like pay rate and frequency, which is used to calculate your annual gross income stream from the employer on your VERO application.
If your employer, payroll, or benefits account was successfully connected, it will appear in green on the page that displays after you close the pop-up to connect.
If you do not have any additional income to add, you can then select "No, this is all my income" at the bottom of the page. At that point, the income sources step would be marked as complete. You will not be prompted to link your bank account or manually upload financial documents.
Benefits of Linking to your Employer, Payroll, or Benefits Account(s):
Linked Employment or Benefits accounts are the highest confidence methods of income verification used by leasing teams, as the information comes directly from your employer.
Linking your employer or benefits accounts is fast, secure, and accurate, speeding up your application process and getting you that much closer to your dream home faster.
Allows you to link multiple employers simultaneously, for those with side-hustles, multiple employers, or more complex employment and income arrangements.
For retired, unemployed, or disabled applicants, you can securely verify your Social Security, Disability, Veteran's, or other benefits as your income sources.
For help or guidance using Linked Employer, Payroll, or Benefits accounts to verify your income and employment, please see: Add Income: Link Employer, Payroll, or Benefits Account
Add Financials: Link your Bank Account
VERO also offers a fast and secure means to connect directly to a Bank or Credit Union, which verifies your income by identifying regular deposits into these accounts from one or many sources.
VERO partners with Plaid to link to your bank account(s), an industry leader being certified in internationally-recognized security standards, like ISO 27001, ISO 27701, and is SSAE18 and SOC 2 compliant and all transferred information is encrypted end-to-end. Privacy is the number one priority here. Providing this information is strictly for the application process. Your account information will not be held or processed for automatic withdrawal purposes.
This step will appear if "Yes, I have additional income" is selected after connecting your employer, the Add Income step is skipped, or we could not successfully connect to your employer for income verification.
TIP: If you attempted to connect your employer, payroll, or benefits, but the income could not be fully verified, you'll be brought to this step and see a screen similar to this with a yellow "Additional verification needed" message that displays:
To use this income verification method, search for your financial institution and log in using your credentials, and allow Plaid to quickly pull a snapshot of your deposits and balances to share with VERO.
Plaid will supply to VERO an income stream identified by regular and consistent deposits from the same entities or employer, which will include employer, pay frequency, and pay amounts that can demonstrate your net or take-home income or assets that may be used for rent payment.
The link provides a secure, encrypted snapshot of your current balance at the time of connection. This doesn’t track your balance or monitor your deposits over time, and does not give VERO access to your bank accounts or credentials, or view your full account numbers.
If your bank account was successfully connected, it will appear in green on the page that displays after you close the pop-up to connect.
If you do not have any additional bank accounts to add, you can then select "No, you've found everything" at the bottom of the page. At that point, the income sources step would be marked as complete. You will not be prompted to manually upload financial documents if income is found.
Benefits of Linking your Bank Account(s):
Linked bank accounts are one of the highest confidence methods of income verification used by leasing teams, after a direct employer connection.
Linking your bank account is a fast and secure way to automatically verify your income; speeding up your application process and getting you that much closer to your dream home faster.
Allows VERO to identify multiple employers simultaneously from whom you receive deposits. This is helpful for those with side-hustles, multiple employers, or more complex employment and income arrangements.
For retired, unemployed, or disabled applicants, you can securely verify your Social Security, Disability, Veteran's, or other benefits as your income sources by demonstrating regular deposits into your bank account. Alimony or unemployment payments as an income stream can also generally be identified through a bank account link.
Allows for income streams to be identified for applicants receiving dividends or disbursements from investment or retirement accounts into a bank account regularly.
Allows for demonstrating any cash assets or savings that are not regular income that you may intend to use for rent payment.
For help or guidance using Linked Employer, Payroll, or Benefits accounts to verify your income and employment, please see: How to link your Bank Account
Upload Financial Documents
Some properties may allow you to upload financial documents in the event you are unable to link to your employer or bank account to have your income and employment automatically verified in VERO.
If you cannot connect to your employer, payroll, benefits, or bank accounts through the two above methods and have not received a way to upload financial documents, please reach out to your leasing team for guidance on what income verification methods they allow or require.
This step will generally only be triggered in one of three ways:
By skipping the Add Income and Add Financials steps individually or selecting "No, I don't have income" at the very beginning of the Income Sources step.
Or
By selecting "Yes, I have additional income" after connecting your bank account.
Or
We were unable to identify your income through either the Add Income step, Add Financials step, or both. In this instance, you will be met with a screen that displays "We can work with that":
VERO uses advanced technology to scan and extract income information from acceptable Financial Documents in order to calculate an income stream. VERO can parse income data from Paystubs, 1099s, or Bank Statements to generate verified income streams.
To use this income verification method, you'll need to be on the Financial Documents Upload step of your VERO application.
You'll first be asked to clarify your income source by selecting an option from the dropdown that appears.
You'll then be asked to fill in certain required fields.
After filling out the required fields, you'll find options for you to add various Financial Documents which could be used to verify your income on your application.
PNG, JPEG, and PDF formats, with a maximum size of 5 MB per file for any one document, can be used, though PDF is recommended for the most accurate extraction of data.
NOTE: Certain properties may require you to submit everything in the original PDF format. In instances like this, they may not accept your documents if they've been uploaded in any other format, such as JPEG or PNG.
You can upload multiple of each type or if you don't have the financial document options available, select the 'Skip' button and then the 'I've finished uploading' button, and reach out to your leasing agent for additional guidance on what other documentation may be accepted.
Once the data has been able to be extracted, VERO will use the information to calculate an income stream, depending on what document type was provided, to assist in verifying your income.
For more information on how to upload your financial documents, please see the article below: How to Upload Financial Documents on VERO
Frequently Asked Questions
Q: I do not want to connect my employer/payroll/benefits or bank account. Can I skip directly to uploading financial documents?
While not recommended generally, you can skip directly to uploading financial documents by selecting "No, I don't have income" when starting the income sources step.
Q: I've connected my employer/payroll/benefits, but I am still being prompted to link my bank account. Why is this?
This is likely because an active income stream could not be determined from the employer/payroll/benefits you've attempted to connect to. In this instance, you will be asked to link your bank account. If linking your bank account cannot be done, you'll need to upload financial documents showing an active income stream.
Q: I want to disconnect my accounts and start the Income Sources section over. How can I do this?
If you've previously connected accounts or uploaded financial documents, you can edit and remove anything connected by selecting "Edit/Add Additional Income" from the Income Sources section of your application homepage.
Q: Is every income source step required?
No, not every income source step is required to be completed as long as income has been properly determined from your connection method of choice. For example, if active income is found when you link your employer, you will not be required to link your bank account or upload financial documents. That being said, if you've completed a step, such as the Add Income step, and no active income can be found, you may be asked to complete a different income step, such as linking your bank account, instead.
Q: Where can I find information on how to complete a specific step of the Income Sources section?
You can find links to each of the steps here: